December 19, 2022

By Nigam Arora & Dr. Natasha Arora

To gain an edge, this is what you need to know today.

Watch Semiconductors

Please click here for a chart of semiconductor ETF SMH.

Note the following:

• Watch semiconductors as an early indication of a potential market move.
• The chart shows that semiconductors have pulled back to the top of the support zone.
• Technically, the support zone shown on the chart is a good place for semiconductors to bounce.  If semiconductors bounce, the market is likely to follow.  On the other hand, if semiconductors break the support zone, it will likely be an early indication of a market downturn
• The RSI on the chart shows that semiconductors can go either way.